SupplierPlus launches a Supply Chain Finance (SCF) program for Food Union

Published on 2022-05-03

SupplierPlus has launched a Supply Chain Finance (SCF) program for Food Union, strengthening the supply chain by financing its payables. Both companies are looking to set a new standard for SCF in the Baltics, improving working capital management of both Food Union and its suppliers. The program is operated by the payables management platform and funder network of SupplierPlus.

“We are happy to announce Food Union as a new Buyer. SupplierPlus allows accelerating payments to medium and smaller suppliers of Food Union, which can have a profound impact on their access to liquidity.”- says Kaspar Kägu, CEO of SupplierPlus Group OÜ.

“Working with SupplierPlus will create new opportunities in developing our supplier relations – simplifying the negotiation process when it comes to competitive pricing and payment terms. More importantly, this collaboration will not only allow us to optimize working capital and provide the necessary flexibility, but it will strengthen and develop relationships with our key suppliers. We are pleased that this service will be provided to us by SupplierPlus, given their outstanding support in the pilot stage,” Arturs Čirjevskis, CEO of Food Union Group in Europe.

About SupplierPlus: The company was founded in 2015 on the idea of simplifying access to working capital through clever use of technology and financing structures. SupplierPlus is a full-service Supply Chain Finance ecosystem for Buyers, Suppliers, and Financiers. As a holistic solution, SupplierPlus caters to the technological, legal, and operational needs of all participants. Launching an SCF program is a complex undertaking, so SupplierPlus is designed for easy implementation and fast time-to-value.

About Food Union: Food Union is a leading, innovative consumer goods company that develops local brands and delivers delightful products in Europe, China and Pacific Asia. Food Union is currently the leading ice cream producer in the Baltics and Denmark, and the group holds a strong market position in Norway and Romania. The leading dairy group is backed by Hong Kong-based investment company Meridian Capital Limited, and one of Asia’s largest private capital firms PAG.

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